UK - The newly established pension fund buyout company Paternoster has signed its first five deals, a spokeswoman confirmed to IPE. However, no details were given.

"We are unable to announce details at the moment as we are currently in the process of communicating the deals to the members of the companies. But I can confirm that we signed five deals", a spokeswoman for Paternoster said.

The company that had been set up by former Prudential UK CEO Mark Wood earlier this year has also confirmed that over the last month five people joined Paternoster from Prudential's middle management where they had left in spring. One of them being Andy Smith, formerly director of pensions at Prudential and now CIO for Paternoster.

"Andy Smith left in May this year. As the company was reorganised in July his role was reassigned between several people", a spokesman for Prudential commented.

The other four joiners to the Paternoster team are:
Michele Byford - operations director (former role at Prudential: operations director)
Jason Wright - programme director (programme director)
Kirsty Fitzpatrick - head of communications (communications manager)
Tim Coulson - transaction executive (deal executive)